AYALA Land Inc. (ALI) has bought the Food Terminal Inc. (FTI) in Taguig City for P24.3-billion. The 74-hectare area is envisioned to become the newest business district in Metro Manila.
ALI Chairman Fernando Zobel de Ayala and President and CEO Antonio Aquino on Monday signed the purchase agreement for the property at Malacañang Palace. It is considered as one of the largest developments in the history of government privatization.
Finance Secretary Cesar Purisima who was joined by Public Works Secretary Rogelio Singson; chief privatization officer Karen Singson of the Privatization and Management Office; FTI President Rene Fuentes and Mayor Maria Laarni Lopez-Cayetano of Taguig City signed on behalf of the government.
According to Ayala Land, the FTI property will become the Southern gateway into Metro Manila. FTI is conveniently located along the South Luzon Expressway (SLEX) and is very close to the Skyway and C-5 road.
Inquirer.net reported that the 70-hectare property will be developed into another thriving just like other Ayala Land properties which include: Makati City, Bonifacio Global City, Vertis North in Quezon City and Cebu Park District, to name a few.
Ayala Land is known for developing areas with convenience-centric retail, dining, as well as entertainment offerings nestled amidst generous open spaces.
